Cerberus Equity Watcher

Cerberus the Equity Watcher is a risk management tool that constantly monitors your account equity and avoid major drawdowns, caused by faulty EAs or by your emotional behaviour if you are a discretional trader. It is extremely useful for systematic traders that rely on EAs that might contain bugs, or that might not performed well in unexpected market conditions. 

Cerberus let you set a minimum equity value and (optionally) a  maximum value, if either of those are reached all positioned are flattened, all pending orders are closedand all EAs are "killed". Upon flattening all positions a notification is sent to the user mobile phone and a clear message is displayed on the screen. After the "flattening" Cerberus keeps watching the equity value and keeps killing any further attempt to trade until it is reinitialized.

Any operation performed by Cerberus is clearly displayed on the screen, reported on the Expert advisor tab and  notifications are sent to the user. In order to avoid user mistakes, several checks are performed on the input value inserted by the user and on the current status of the automatic trading.

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FEATURES

Minimum and Maximum Equity Value can be set in the account currency or in percentage of initial equity
Maximum Equity value is optional
If min/max Equity is reached all EAs are killed indipendently of the symbol they trade
A double check is performed several seconds after the first flattening
Cerberus keeps monitoring the equity also after flattening
Equity is monitored every 1 second, frequency can be set by user ( multiples of 1 second only)
Push notification are sent after initialization, deinitialization and after flattening
Audio notifications are played after flattening and after the second check
After flattening: Status changed is displayed on screen, push notifications are sent to mobile phone 
Option to  turn the chart background red after flattening 
Checks are performed on Input parameters
If autotrading is  disabled for any reason: a message displayed on the screen and a notification is sent to the mobile

APPLICATIONS:

PROP FIRM CHALLENGES: use Cerberus to control max drawdown and max daily losses (for more details visit this link https://www.mql5.com/en/blogs/post/751110)

SYSTEMATIC TRADERS:   do not rely on EAs  to "autokill" themselves if things go wrong, let Cerberus supervise them  (please read further here)

DISCRETIONARY TRADERS: Cerberus can be set on a VPS server and allow you to avoid huge losses caused by emotional states, in my blog I provide a detailed video on how to use Cerberus to control yourself